Amazon Intends To Lay Off 10,000 Workers Starting This Week

(CTN NEWS) – Amazon Inc plans to lay off about 10,000 workers in corporate and technology jobs starting this week, the New York Times reported on Monday.

According to the report, the company will cut jobs in its devices unit, which includes Alexa, its retail division and human resources, revealing that the number of layoffs remains fluid.

Reuters’ request for comment was not immediately answered.

The company had more than 1.6 million full-time and part-time employees as of Dec. 31 last year and had recently announced it would freeze hiring for the next few months.

Just weeks ago, Amazon warned consumers businesses they had less money to spend because of rising prices during the busy holiday season.

Amazon has made deep cuts to its employee base to prepare for a possible economic downturn.

Facebook-parent Meta Platforms announced last week that it would cut more than 11,000 jobs or 13% of its workforce. Elon Musk also owns Twitter Inc, Microsoft Corp, and Snap Inc.

During a broad tech selloff, Amazon shares, which have lost about 40% of their value so far this year, briefly pared losses and were last trading down 2.4% at $98.38.

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